Dependency Exemption - Law Dictionary Search Results
Home Dictionary Name: dependency exemption Page 1 of about 17 results (0.004 seconds)dependency exemption
dependency exemption see exemption ...
exemption
exemption 1 : the act of exempting or state of being exempt 2 : one that exempts or is exempted: as a : an amount of income exempted from taxation that may be deducted from adjusted gross income under the tax laws see also Internal Revenue Code in the Important Laws section compare deduction, exclusion, tax credit de·pen·den·cy exemption [də-pen-dən-sē-] : an exemption that is allowed for each dependent who qualifies under the tax laws (as sections 151 and 152 of the Internal Revenue Code) NOTE: Under the federal income tax laws, the dependency exemption is allowed for each dependent whose gross income is less than the exemption or who is a child of the taxpayer and is under 19 or a student under 24. per·son·al exemption : an exemption that is allowed for the taxpayer or for the taxpayer and spouse if filing a joint return b : the right created by federal and state laws to exempt specified types of property from a bankruptcy estate [pre...
dependent
dependent 1 : determined or conditioned by another : contingent 2 a : relying on another for esp. financial support b : lacking the necessary means of support or protection and in need of aid from others (as a public agency) [have the child declared and taken away from his or her parents "L. H. Tribe"] 3 : subject to another's jurisdiction [the United States and its territories] n : a person who is dependent ;esp : a close relative or member of a taxpayer's household who receives over half of his or her support from the taxpayer and is a U.S. citizen, national, or resident, or a resident of a bordering country (as Mexico) see also dependency exemption at exemption ...
exemptions, exempt property
exemptions, exempt property Certain property owned by an individual debtor that the Bankruptcy Code or applicable state law permits the debtor to keep from unsecured creditors. For example, in some states the debtor may be able to exempt all or a portion of the equity in the debtor's primary residence (homestead exemption), or some or all "tools of the trade" used by the debtor to make a living (i.e., auto tools for an auto mechanic or dental tools for a dentist). The availability and amount of property the debtor may exempt depends on the state the debtor lives in. Source: Administrative Office of the U.S. Courts ...
homestead exemption
homestead exemption : an exemption from liability that prevents creditors from obtaining satisfaction from a debtor's homestead see also declaration of homestead at declaration NOTE: The laws governing the homestead exemption vary greatly from state to state. Most states have limits on the amount for which a debtor is exempted, but a few have no limits at all. Others have limits that are dependent on the size or type of property, or the age of the property owner. ...
Lottery
Lottery, a game of chance; a distribution of prizes by lot or chance, Taylor v. Smetten, (1883) 11 QBD 207. By 10 & 11 Wm. 3, c. 17, Chitty's Statutes, tit. 'Games,' all lotteries were declared to be public nuisances, and all grants, patents, or licences for the same to be contrary to law; and the (English) Gaming Act, 1802 (42 Geo. 3, c. 119), imposes a penalty of 500l. on any person keeping any place for any lottery' not authorized by Parliament' for as lotteries were found to be a ready mode for raising money for the service of the state, they were from time to time sanctioned by Acts of Parliament passed expressly for this purpose (see 4 Geo. 4, c. 60), but by 6 Geo. 4, c. 60, they were abolished. As to what constitutes 'keeping' within the Act of 1802, see Martin v. Benjamin, (1907) 1 KB 64; but a body corporate cannot be convicted (s. 41) as rogues and vagabonds, Hawke v. Hulton, (1909) 2 KB 93.A physical lot is not essential to a lottery, Barclay v. Pearson, (1893) 2 Ch 154. In ...
National insurance
National insurance. The (English) National Insur-ance Act, 1911 (1 & 2 Geo. 5, c. 55), introduced by Mr. Lloyd George, established a wide system of compulsory state insurance covering both ill-health and unemployment, which is based upon premiums contributed in part by the employer, in part by the employee, and in part by the State. The Act consisted of three parts, the first dealing with National Health Insurance, the second with Unemployment Insurance, and the third contained miscellaneous provisions. This Act remained the basis of National Health Insurance, although the subject of very extensive amendment, until the National Health Insurance Act, 1924, consolidated the law. The law has been consolidated again by the (English) National Health Insurance Act, 1936 (26 Geo. 5, and 1 Edw. 8, c. 32), amends and repeals the whole of the Acts passed in 1920, 1922, 1924 and 1928. The arrangement is as follows:-Part I. Insured Persons and Contributions.Part II. Benefits.Part III. Approved Soc...
Perpetuity
Perpetuity, concerns rights of property only, and does not affect the making of contracts, which do not create rights of property, Ram Baran Prasad v. Ram Mohit Hazara, AIR 1967 SC 744: (1967) 1 SCR 293.Is a future limitation, whether executory or by way of remainders, and of either real or personal property which is not to vest until after the expiration of, or will not necessarily vest within the period fixed and prescribed by law for the creation of future estates and interests, Walsh v. Secretary of State for India, (1863) 10 HLC 367.Perpetuity, unlimited duration; exemption from intermission or ceasing, where, though all who have interest should join in a covenant, so that they could not bar or pass the estate. It is odious in law, destructive to the common wealth, and an impediment to commerce, by preventing the wholesome circulation of property.The rule against perpetuities, or the doctrine of remoteness, applies to the corpus of property whether real or personal, and whether li...
deduction
deduction 1 : an amount allowed by tax laws to be subtracted from income in order to decrease the amount of income tax due see also Internal Revenue Code in the Important Laws section compare credit, exclusion, exemption busi·ness deduction : a deduction usually taken from gross income that is allowed for losses or expenses attributable to business activities or to activities engaged in for profit charitable deduction : a deduction allowed for a contribution to a charity usually that is qualified under the tax law (as sections 170 and 2055 of the Internal Revenue Code) de·pen·den·cy deduction : a deduction allowed to be taken in a set amount for a qualified dependent (as under sections 151 and 152 of the Internal Revenue Code) itemized deduction : a deduction for a specifically recorded item that is allowed to be taken from adjusted gross income if the total of such deductions exceeds the standard deduction marital deduction 1 : a deduction allowed under th...
Maintenance
Maintenance, an officious intermeddling in a suit which in no wise concerns one, by assisting either party with money or otherwise to prosecute or defend it; both actionable and indictable [see Bradlaugh v. Newdegate, (1883) 11 QBD 1], and invalidates contracts involving it. By the Roman Law it was a species of crimen falsi to enterin to any confederacy, or do any act to support another's law-suits, by money, witnesses, or patronage, 4 Bl. Com. 134.It is either ruralis, in the country as where one assists another in his pretensions to lands, by taking or holding the possession of them for him; or where one stirs up quarrels or suits in the country; or it is curialis, in a Court of justice, where one officiously intermeddles in a suit depending in any court, which does not belong to him, and with which he has nothing to do, 2 Rol. Abr. 115. Maintaining suits in the spiritual courts is not within the statutes relating to maintenance, Cro. Eliz. 549. A man may, however, maintain a suit in...
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